Alamo Group Inc Stock Price, News & Analysis

Alamo Group reported its Q4 2020 results, registering net sales of $288.6 million, a 3.8% decline year-over-year. The Industrial Division saw a more significant drop of 8.9%, while the Agricultural Division posted a 10.5% increase. Overall net income for the quarter fell to $8.1 million, down 15.5%. For the full year, net sales reached a record $1.16 billion, up 4.0%, though net income decreased by 10% to $56.6 million. The company's backlog rose 35.6% to $354.1 million, indicating ongoing demand despite COVID-19 challenges impacting operations.

Alamo Group (NYSE: ALG) will report its fourth quarter and year-end 2020 financial results after market close on February 25, 2021. A conference call for discussion will be held on February 26, 2021, at 11:00 a.m. ET. Participants can join via phone or listen online on Alamo's website. The company, established in 1969, specializes in high-quality equipment for infrastructure maintenance and agriculture, operating 27 plants globally with approximately 3,950 employees. Forward-looking statements include risks related to market demand and supply chain disruptions due to COVID-19.

Alamo Group declared a quarterly dividend of $0.14 per share, an increase from $0.13. This dividend will be payable on January 29, 2021, to shareholders recorded by January 19, 2021. The company continues to showcase its prowess in the design and manufacturing of maintenance equipment across multiple sectors, operating 27 plants globally with approximately 3,950 employees. Challenges noted include potential impacts from the COVID-19 pandemic and various market risks.

Alamo Group Inc. (NYSE: ALG) announced that President and CEO Ron Robinson plans to retire by mid-2021 after over 21 years in leadership. The Board is preparing for a smooth succession and aims to appoint a new CEO soon. Robinson expressed the decision as a timely change for personal reasons and indicated his intention to remain on the Board. Under his leadership, Alamo Group's growth has been significant, with sales increasing from $177 million to over $1.1 billion, and net income rising from $6.1 million to $63 million.

Alamo Group reported record net sales of $291.8 million for Q3 2020, a 7.3% increase year-over-year, with net income rising 15.0% to $20.0 million.

Despite a 9.0% decline in net income for the first nine months, EBITDA increased by 14.2%. Total debt was reduced by $64.7 million in Q3. The backlog stands at $254.5 million, up 17.5% from Q2 2020. The Agricultural Division showed resilience with a 2.0% sales increase, while the Industrial Division grew 10.1%. Challenges from COVID-19 persist, affecting operations and sales.

Alamo Group Inc. (NYSE: ALG) will release its third-quarter 2020 financial results post-market on October 28, 2020. A conference call led by senior management will occur on October 29, 2020, at 3:00 p.m. ET to discuss these results. Interested participants can join via phone or listen to an online replay on the company’s website. Alamo Group specializes in manufacturing equipment for infrastructure maintenance and agriculture, operating globally with around 4,070 employees across 30 plants as of June 30, 2020.

Alamo Group (NYSE: ALG) has declared a quarterly cash dividend of $0.13 per share. This dividend is payable on October 28, 2020, to shareholders of record as of October 15, 2020. The company, established in 1969, specializes in manufacturing high-quality equipment for infrastructure maintenance and agriculture. Alamo Group operates 30 plants across North America, Europe, Australia, and Brazil, employing approximately 4,070 people as of June 30, 2020.

Alamo Group Inc. reported second-quarter 2020 net sales of $268.6 million, a decline of 5.8% year-over-year. Net income fell 37.2% to $13.0 million. Despite challenges from the COVID-19 pandemic, first-half net sales reached a record $583.1 million, up 6.6%, but net income decreased 20.6% to $28.5 million. Acquisitions contributed $58 million to second-quarter sales. The backlog stood at $216.6 million. Alamo reduced debts by $51.5 million during the quarter, maintaining cash levels above $80 million.

Alamo Group Inc. (NYSE: ALG) will release its Q2 2020 financial results on July 29, 2020, after market close. Senior management will discuss the results during a conference call on July 30, 2020, at 3:00 p.m. ET. Participants can join the call by dialing 800-367-2403 (domestic) or 334-777-6978 (international). A replay will be available until August 04, 2020. The Company is a leader in manufacturing equipment for infrastructure maintenance and employs around 4,230 people across 30 plants worldwide.